Inside Trump's Billion-Dollar Crypto Empire: NFTs, Memecoins & DeFi Revealed

The Rise of Trump’s Crypto Empire: A New Political-Financial Frontier

Donald Trump, once a vocal critic of cryptocurrencies, has transformed into one of the most influential figures in the blockchain space. His evolution from dismissing Bitcoin as a "scam" to embracing the role of the self-proclaimed "crypto president" has led to the creation of a sprawling Web3 empire. This digital transformation includes NFTs, memecoins, decentralized finance (DeFi), and even stablecoin initiatives, all under the umbrella of his political brand.

The foundation of Trump’s crypto ventures is built on a complex web of entities, partnerships, and financial strategies that blur the lines between politics, personal wealth, and public policy. While Trump remains the public face of these projects, much of the operational machinery is driven by a network of little-known business partners, offshore structures, and foreign investors.

The Pillars of Trump’s Digital Asset Strategy

Trump’s foray into cryptocurrency is marked by several key components:

1. Trump Digital Trading Cards (NFTs): Launched in late 2022, this NFT collection quickly became a sensation, selling out within 24 hours and generating $4.5 million. Despite being marketed as a Trump-backed initiative, the project was actually managed by an obscure company called NFT INT LLC, which licenses Trump’s image through CIC Digital LLC. Subsequent NFT drops included exclusive perks like private dinners at Mar-a-Lago and pieces of Trump memorabilia.

2. Memecoins ($TRUMP and $MELANIA): In early 2025, the $TRUMP token was launched just before Trump’s second inauguration. One billion tokens were minted, with 80% retained by affiliated companies. Within a day, the coin reached a $27 billion market cap, though it soon plummeted, leading to significant losses for retail investors. The $MELANIA token followed shortly after, mirroring a similar trajectory.

3. World Liberty Financial (WLF): A DeFi platform endorsed by Trump, WLF raised over $550 million through private placements of its $WLFI governance tokens. Unlike traditional DeFi platforms, WLF offers no equity or revenue rights to token holders. The Trump family now holds a controlling stake in the platform, raising concerns about transparency and accountability.

4. USD1 Stablecoin and Wallet Projects: USD1, issued by World Liberty Financial, is positioned as a multi-chain stablecoin fully backed by U.S. dollars and treasuries. An official wallet is also in development, adding another layer to Trump’s growing crypto infrastructure.

5. American Bitcoin Mining Venture: Trump’s sons, Eric and Donald Jr., have launched a Bitcoin mining initiative aimed at building a publicly traded company that will amass a substantial Bitcoin treasury.

Behind the Scenes: Key Players and Power Struggles

While Trump’s name is front and center, the real power lies in a network of entities and individuals who manage the day-to-day operations of these ventures.

• Bill Zanker, a longtime Trump associate, co-founded Fight Fight Fight LLC, the company behind the $TRUMP token. Despite not holding an official role in the Trump Organization, Zanker has become a central figure in the token ecosystem, benefiting from licensing deals and transaction fees.

• Zak Folkman and Chase Herro were the original founders of World Liberty Financial. However, their influence diminished after the Trump family took control of the platform in early 2025. Their past ventures, including legal disputes and controversial startups, have drawn scrutiny from regulators and journalists alike.

• Justin Sun, founder of the TRON blockchain, emerged as one of WLF’s largest investors. His $75 million investment came amid ongoing SEC investigations, raising questions about potential regulatory leniency tied to his involvement.

Legal and Ethical Concerns

Trump’s crypto ventures have sparked numerous investigations and debates around legality, ethics, and national security.

• Conflict of Interest: As both President and a major player in the crypto space, Trump occupies a unique position where he can influence regulations that directly affect his financial interests.

• Foreign Emoluments Clause Violations: Foreign investors, including those from China, Qatar, and the UAE, have poured millions into Trump-linked tokens. This raises constitutional concerns about whether these investments constitute prohibited emoluments.

• Pay-for-Access Allegations: Promotions offering access to Trump at private events in exchange for token holdings have been criticized as unethical pay-to-play schemes.

• Market Manipulation Risks: Trump’s public statements often cause volatility in the value of his associated tokens, prompting concerns about insider trading and market manipulation.

Legislative Responses and Proposed Reforms

In response to these controversies, lawmakers have introduced several bills aimed at curbing political figures from profiting off their office through crypto ventures.

• MEME Act (Members Eliminate Market Exploitation Act): Sponsored by Senator Chris Murphy and Rep. Sam Liccardo, this bill would prohibit federal officials from promoting or endorsing cryptocurrencies tied to their likeness.

• COIN Act (Curbing Officials’ Income from Novelty Tokens): Proposed by Senator Adam Schiff, this legislation seeks to ban presidents, cabinet members, and their families from launching or owning digital assets linked to political influence.

• End Crypto Corruption Act: Introduced by Senators Jeff Merkley and Elizabeth Warren, this act aims to outlaw the use of public office for private crypto enrichment and requires compliance guidelines for politicians holding digital assets.

The Future of Trump’s Crypto Ventures

Despite mounting scrutiny, Trump’s crypto empire continues to expand. His sons are pushing forward with American Bitcoin, while Truth Social’s parent company has raised $2.5 billion to invest in Bitcoin for its corporate treasury. Additionally, development of the USD1 stablecoin is progressing, signaling further integration of crypto into Trump-affiliated businesses.

However, the long-term viability of these ventures remains uncertain. With regulatory pressure intensifying and legal challenges looming, Trump’s digital empire may serve as either a blueprint for future political-financial innovation or a cautionary tale of unchecked power and profit-seeking in the digital age.